Wednesday, October 16, 2013

Default hysteria continues in Washington, in defiance of the most basic
facts of arithmetic. Some Republicans have even been taken in, but one
who is having none of it is Congressman David Schweikert of Arizona, the former treasurer of Maricopa County:

[snip]

[T]here is no such thing as default unless
there is an actual evil attempt from the administration. When you have
18 percent of GDP coming in in cash, less than 2 percent going out in
debt coverage—I’m stunned you all fall for it in the press. None of you
were math majors, were you?”

But it's such a useful misunderstanding for Prince Obammy, The Liar in Chief.